Clarification of rules of acceptance in making business contracts
Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by law. There are certain rules on making a valid formal contract. If...
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| Format: | Article |
| Language: | English |
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Canadian Center of Science and Education
2011
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| Online Access: | http://irep.iium.edu.my/3296/ http://irep.iium.edu.my/3296/1/Rules_of_Acceptance_Business_Contracts.pdf |
| _version_ | 1848776131287711744 |
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| author | Jalil, Md Abdul |
| author_facet | Jalil, Md Abdul |
| author_sort | Jalil, Md Abdul |
| building | IIUM Repository |
| collection | Online Access |
| description | Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written
contract is very important for business corporations and firms although oral contracts are accepted and recognized
by law. There are certain rules on making a valid formal contract. If the business firms do not have knowledge of
those contract formation rules and they make contracts in ignorance of those rules, their contracts would be liable to
be declared as null and void by the court of law if it is referred to it to determine its validity or to get a remedy for breach of contracts by one of the parties in the contract. In this paper I have not discussed all the elements of a valid contract. I have discussed only one of the fundamental elements of a valid contract that is ‘acceptance’. In a business contract, there must have be an ‘offer’ and an ‘acceptance’, to make a valid contract, if not the contract will not be valid, recognized and enforceable in the court of law. The objective of this paper is to clarify the rules of making a valid ‘acceptance’ which may lead to making a binding contract between the parties. |
| first_indexed | 2025-11-14T14:25:13Z |
| format | Article |
| id | iium-3296 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T14:25:13Z |
| publishDate | 2011 |
| publisher | Canadian Center of Science and Education |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-32962011-09-28T07:34:35Z http://irep.iium.edu.my/3296/ Clarification of rules of acceptance in making business contracts Jalil, Md Abdul K Law (General) Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by law. There are certain rules on making a valid formal contract. If the business firms do not have knowledge of those contract formation rules and they make contracts in ignorance of those rules, their contracts would be liable to be declared as null and void by the court of law if it is referred to it to determine its validity or to get a remedy for breach of contracts by one of the parties in the contract. In this paper I have not discussed all the elements of a valid contract. I have discussed only one of the fundamental elements of a valid contract that is ‘acceptance’. In a business contract, there must have be an ‘offer’ and an ‘acceptance’, to make a valid contract, if not the contract will not be valid, recognized and enforceable in the court of law. The objective of this paper is to clarify the rules of making a valid ‘acceptance’ which may lead to making a binding contract between the parties. Canadian Center of Science and Education 2011-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/3296/1/Rules_of_Acceptance_Business_Contracts.pdf Jalil, Md Abdul (2011) Clarification of rules of acceptance in making business contracts. Journal of Politics and Law, 4 (1). pp. 109-122. ISSN 1913-9055 (O), 1913-9047 (P) http://www.ccsenet.org/jpl |
| spellingShingle | K Law (General) Jalil, Md Abdul Clarification of rules of acceptance in making business contracts |
| title | Clarification of rules of acceptance in making business contracts |
| title_full | Clarification of rules of acceptance in making business contracts |
| title_fullStr | Clarification of rules of acceptance in making business contracts |
| title_full_unstemmed | Clarification of rules of acceptance in making business contracts |
| title_short | Clarification of rules of acceptance in making business contracts |
| title_sort | clarification of rules of acceptance in making business contracts |
| topic | K Law (General) |
| url | http://irep.iium.edu.my/3296/ http://irep.iium.edu.my/3296/ http://irep.iium.edu.my/3296/1/Rules_of_Acceptance_Business_Contracts.pdf |